Renovated Two-Unit
For Sale
$379,999
Pending
213 8th St, Allentown, PA 18102
Updated duplex with occupied units, flexible bedroom layouts, and a rear yard in Allentown.
Property Size2,030 SF
Days on Market53
Property Features for 213 8th St
General Information
Standard status
Pending
Size
2,030 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Building Details
Year Built
1874
Listing Agency:
Spade Property Management Inc.
(610) 703-8420
Listed By:
Nick Spade
Source:
Poconohomessearch
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 30 at 6:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Spade Property Management Inc.
Investment Insights
Based on property information with market context.
This renovated duplex contains two residential units totaling 2,030 square feet. The first-floor apartment offers two bedrooms and access to a rear yard. A three-bedroom residence occupies the second and third floors and includes a home office, living room, and eat-in kitchen. Both apartments are occupied and in good standing with the current owner.
Recent improvements include updated plumbing and electrical systems, refreshed interior finishes, structural work, and a roof replacement completed within the last couple years. Heating is provided by electric baseboard systems, with responsibility assigned to the tenants. Built in 1874, the property is located at 213 8th St in Allentown, Pennsylvania.
Recent improvements include updated plumbing and electrical systems, refreshed interior finishes, structural work, and a roof replacement completed within the last couple years. Heating is provided by electric baseboard systems, with responsibility assigned to the tenants. Built in 1874, the property is located at 213 8th St in Allentown, Pennsylvania.
Key Highlights
- Two‑unit duplex with 2,030 square feet
- First‑floor two‑bedroom unit with rear yard
- Second- and third‑floor unit with 3 bedrooms and a home office
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,294
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,880
$425.9K
Cap Rate 7%
$304,200
$304.2K
Cap Rate 9%
$236,600
$236.6K
Market Conditions
NOI Build-Up for 2,030 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.9K $16.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$30.4K $14.99/SF
− OpEx
−$9.1K −$4.50/SF
NOI
$21.3K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,880
Cap Rate 7%
$304,200
Cap Rate 9%
$236,600
Alternative Uses
Best Use
Multifamily LT 5
$304.2K
$266.2K – $354.9K
NOI $21,294 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$267.6K
$234.1K – $312.2K
NOI $18,730 @ 7.0% cap · market cap 4.93%
Theoretical Best
Specialty Retail
$398.8K
$349.0K – $465.3K
NOI $27,917 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,650
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with occupied units, flexible bedroom layouts, and a rear yard in Allentown.
Where is this duplex located?
The property is located at 213 8th St Allentown, PA.
What is the asking price?
The asking price for this property is $379,999.
What are key features of this property?
This property features: Two‑unit duplex with 2,030 square feet; First‑floor two‑bedroom unit with rear yard; Second- and third‑floor unit with 3 bedrooms and a home office
